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Sugar declines on ample stocks, selected demand
A steep fall of Rs 100 per quintal in sugar prices, marked trading at the wholesale market in the national capital today, pulled down by ample position of stocks on persistent supplies from mills amid absence of worthwhile buying activity.
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Uttar Pradesh govt asks sugar mills to pay Rs 123 bn dues in 15 days
In the current season, that is 2017-18, UP's sugar production was around 12 mt on the back of higher production and a rise in recovery ratio of 10.87%
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Sugar prices decline further
Sugar prices at Vashi declined further by ₹15-20, extending a bearish trend on Friday as producers/mills brought down the sale price by ₹10 for fair quality.Naka rates were steady.
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Sugar extends losses on higher supply
Sugar prices drifted lower in the wholesale sugar market in the national capital today on fall in demand from bulk consumers and stockists against ample stocks position on increased arrivals from mills.
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Sugar adds more losses on higher supply
The slide in sugar prices remained unabated at the wholesale market in the national capital for another day as persistent supplies outpaced the current demand and registered further fall of up to Rs 50 per quintal.
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To bridge trade gap, China opens door to Indian raw sugar
NEW DELHI: India will export 1-1.5 million tonne of raw sugar to China after almost a decade and is waiting for a formal notification from Beijing greenlighting the consignment. Though sugar exports attract a 50% duty in China, officials said it was still viable because of the high prices there.
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Sugar prices drop
Maharashtra’s mills sold sugar ₹20 lower on Wednesday on reports of higher cane sowing. On the previous day about 18 mills sold 20,000 bags at ₹2,920-3,000 a quintal of S-grade and ₹3,020-3,100 M-grade.
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Sugar declines on low demand
Prices of both the varieties of sugar declined at the Vashi wholesale market here today following lower demand from stockists and bulk consumers.
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Bearish trend in sugar market
The sugar market witnessed a bearish trend on Tuesday on higher selling pressure amidst need-based demand. On Monday, about 16 mills sold 18,000-20,000 bags at ₹2,950-3,020 for S-grade and ₹3,040-3,120 for M-grade.
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Impact of govt’s Rs 8,500-cr sugar bailout package
This week we discuss two issues on our show macro@moneycontrol.
The Cabinet on June 6 approved a Rs 8,500-crore bailout package for the sugar industry which includes Rs 4,500 crore soft loan for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply.
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MPs call for serious probe on fake sugar
MPs have demanded thorough investigations into those involved in the contraband sugar business in the country.
This comes as National Assembly Majority Leader Aden Duale (Garissa Township) promised to provide details of those behind the illicit trade.
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Maharashtra cooperative bank raises sugar valuations to Rs 2,900 per quintal
The Maharashtra State Cooperative Bank (MSCB), the apex cooperative bank of the state, has decided to increase sugar valuations to Rs 2,900 per quintal, keeping in mind the Minimum Floor Price (MFP) decided by the Centre.
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